Market Comments (DJI / HSI / STI) For Week of 15 Apr 2013

STI 12 Apr 13

HSI 12 Apr 13

DJI 12 Apr 13

The Dow Jones has broken its resistance of 14,860 on Wed, turning this level from resistance to support. If the strength continues, we are likely to see the index hiting its next resistance of 15,100 to 15,200. Trader wanting to enter can wait for slight pull back towards 14,860 and enter long. There are probably some consolidation in the coming week before DJI making its way towards the 15,000 mark.

HSI – The Hang Seng Index was being rejected nicely by the resistance level of 22,185. The index is in a short to medium term downtrend. If you plot in the moving average, it is below 100 days moving averages but supported my the 200 days moving averages. Both the CCI and MACD are negative. The down momentum is likely to continue and we are looking at next support zone at around 21,080 to 21,280.

STI – The Straits Times Index has been trapped in the rectangle (sideway) for the last 2 months. CCI is negative again and MACD has crossed its signal line. We shall expect STI t0 continue its sideway movement until it breaks its upper channel resistance and previous high of 3,331 clearly.

Market Comments (DJI / HSI / STI) For Week of 8 Apr 2013

DJI 5 Apr 13

HSI 5 Apr 13

STI 5 Apr 13

DJI – The Dow Jones was accurated rejected by resistance level 14,680 last Wed. Its immediately support is at 14,450 – 14,500 zone. Currently, the index is trap within a tight traingle of 14,680 and the upper ceiling of the trend channel. Once the index break this triangle, we will see a clearer direction. At the moment, indicators points towards reversal. Both CCI and MACD are turning down. If the index indeed break down of the triangle, we are looking at next support between the region of 14,120 to 14,230.

HSI – The Hang Seng Index was being rejected nicely by the support-turned-resistance levels of 22,521 and 22,185. The index is in a short to medium term downtrend. If you plot in the moving average, it is below 100 days moving averages but supported my the 200 days moving averages. The down momentum is likely to continue and we are looking at next support zone at around 21,080 to 21,280.

STI – The Straits Times Index has hit its sideway resistance and is turning down. It has completed an evening doji star pattern and will be continue to be trapped in the rectangle (sideway). CCI is turning down again and MACD bearish divergence. STI will remain rather unexciting in the coming week.